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March 28, 2008

Document file: O'Malley-Constellation deal

The fine print has been posted on the PSC's Web site.

One interesting detail. Page 5 days Constellation "will prioritize the development of a new nuclear plant at Calvert Cliffs over the development of a nuclear facility at any other site it controls, provided that all things are equal, including, but not limited to, regulatory approvals and acceptable financing."

All things are never equal.

Posted by Jay Hancock at 1:24 PM | Permalink | Comments (2)

Comments

Acceptable financing is the interesting one? What does that mean? They are going to makes sure they don't take out an ARMS loan on the power plant?

Posted by: Neil | March 28, 2008 4:09 PM

Nuclear power plants cost billions of dollars to build. "Acceptable financing" basically means that they can get banks to back the project. If the regulatory climate in Maryland wasn't one that would allow Constellation to recoup its investment in the plants, banks wouldn't be willing to finance in Maryland, but might in New York (the other location Constellation is considering).

Posted by: Financier | March 29, 2008 10:12 AM

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About Jay Hancock

Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Tuesdays and Sundays.

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